In order for the subject property to qualify, 75% of the total market rent must exceed the total monthly payment.

I wasn't totally sure.

I looked at the spreadsheet I was sent by the lender, and it shows a loan discount fee and an origination fee, both together totally $2200

@Glenn Gayet you should pack your bags, move to Denver, and talk to more than a few brokers who have been there for a very long time.

We had about $3k in unexpected costs + holding costs +  a few changes that upped the renovation total.

Paid for the whole house in total.

The Property I’m looking at needs total rehab, top to bottom.. was just asking to see if it would be beneficial and make sense to restructure it and make it 2 units.. 

That's all before you can figure total costs for the addition. 

@John Gooch I work with investors (and new agents) who already have a jammed packed schedule.

They find a total average return of 9% for the period they looked at (1986 to 2014), and conclude:"Each component contributes approximately equally to the aggregate U.S. portfolio of housing returns, so excluding one component excludes half of total returns on average," There is also a helpful graph comparing the breakdown between the two factors in the 30 largest metro areas.